Fractional Response Models - A Replication Exercise of Papke and Wooldridge (1996)

• Autorzy: Harald Oberhofer , Michael Pfaffermayr
• Języki publikacji: EN

Abstrakty

EN

This paper replicates the estimates of a fractional response model for share data reported in the seminal paper of Leslie E. Papke and Jeffrey M. Wooldridge published in the Journal of Applied Econometrics 11(6), 1996, pp.619-632. We have been able to replicate all of the reported estimation results concerning the determinants of employee participation rates in 401(k) pension plans using the standard routines provided in Stata. As an alternative, we estimate a two-part model that is capable of coping with the excessive number of boundary values equalling one in the data. The estimated marginal effects are similar to those derived in the paper. A small-scale Monte Carlo simulation exercise suggests that the RESET tests proposed by Papke and Wooldridge in their robust form are useful for detecting neglected non-linearities in small samples. (original abstract)

Słowa kluczowe

EN

Mass communication models; Management of pension funds

PL

Modele komunikowania masowego; Zarządzanie funduszami emerytalnymi

• Czasopismo: Contemporary Economics
• Rocznik: 2012
• Tom: 6
• Numer: nr 3
• Strony: 56--64

Twórcy

autor

Harald Oberhofer

• University of Salzburg, Austria

autor

Michael Pfaffermayr

• University of Innsbruck, Austria; Austrian Institute of Economic Research, Austria

Bibliografia

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• Papke, L. E., & Wooldridge, J. M. (1993). Econometric methods for fractional response variables with an application to 401(k) plan participation rates (Technical Working Paper No. 147). National Bureau of Economic Research.
• Papke, L. E, & Wooldridge, J. M. (1996). Econometric methods for fractional response variables with an application to 401(k) plan participation rates. Journal of Applied Econometrics, 11(6), 619-632.
• Papke, L. E., & Wooldridge, J. M. (2008). Panel data methods for fractional response variables with an application to test pass rates. Journal of Econometrics, 145(1-2), 121-133.
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• Ramalho, E. A., Ramalho, J. J. S., & Murteira, J. M. R. (2011). Alternative estimating and testing empirical strategies for fractional regression models. Journal of Economic Surveys, 25(1), 19-68.
• Wooldridge, J. M. (2002). Econometric Analysis of Cross Section and Panel Data. Cambridge, MA: MIT Press.

Identyfikatory

DOI

10.5709/ce.1897-9254.50